Orizon Real Estate, Inc. Bloghttp://www.orizonrealestate.com/blog_category
Information and news about Orizon Real Estate, Inc.en-usWed, 20 Feb 2019 15:01:03 GMT10 Steps To Buying A Homehttp://www.orizonrealestate.com/blog/115/10-Steps-To-Buying-A-Home
<p>&nbsp;</p>
<p>HOME BUYING ARTICLES</p>
<h1>10 Steps to Buying a Home</h1>
<h3 id="article_name"><em>Understanding how to find and finance the perfect home for you</em></h3>
<p>Buying a house requires a lot of time and effort, but these 10 steps can help make the home buying process manageable and help you make the best decisions possible.</p>
<h3>Step 1: Start Your Research Early</h3>
<p>As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.</p>
<h3>Step 2: Determine How Much House You Can Afford</h3>
<p>Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt.</p>
<p>But you should make this determination based on your own financial situation. Use our&nbsp;<a href="https://www.discover.com/home-loans/affordability-calculator/">Affordability Calculator</a>&nbsp;to see how much house you can afford.</p>
<p>To help you save for your down payment, try&nbsp;<a href="https://www.discoverbank.com/bankac/loginreg/login">Discover Bank's AutoSavers Plan</a>, which makes it easy to put aside money each month.</p>
<h3>Step 3: Get Prequalified and Preapproved for credit for Your Mortgage</h3>
<p>Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage. To get prequalified, you just need to provide some financial information to your mortgage banker, such as your income and the amount of savings and investments you have. Your lender&nbsp;will review this information and tell you how much we can lend you. This will tell you the price range of the homes you should be looking at. Later, you can&nbsp;get preapproved for credit, which involves providing your financial documents (W-2 statements, paycheck stubs, bank account statements, etc.) so your lender&nbsp;can verify your financial status and credit.</p>
<h3>Step 4: Find the Right Real Estate Agent</h3>
<p>Real estate agents are important partners when you're buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that isn't easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. And best of all, it doesn't cost you anything to use an agent - they're compensated from the commission paid by the seller of the house.</p>
<h3>Step 5: Shop for Your Home and Make an Offer</h3>
<p>Start touring homes in your price range. It might be helpful to take notes (using this&nbsp;<a href="https://www.discover.com/home-loans/articles/home-shopping-worksheet/">helpful checklist</a>) on all the homes you visit. You will see a lot of houses! It can be hard to remember everything about them, so you might want to take pictures or video to help you remember each home.</p>
<p>Make sure to check out the little details of each house. For example:</p>
<ul>
<li>Test the plumbing by running the shower to see how strong the water pressure is and how long it takes to get hot water</li>
<li>Try the electrical system by turning switches on and off</li>
<li>Open and close the windows and doors to see if they work properly</li>
</ul>
<p>It's also important to evaluate the neighborhood and make a note of things such as:</p>
<ul>
<li>Are the other homes on the block well maintained?</li>
<li>How much traffic does the street get?</li>
<li>Is there enough street parking for your family and visitors?</li>
<li>Is it conveniently located near places of interest to you: schools, shopping centers, restaurants, parks, and public transportation?</li>
</ul>
<p>Take as much time as you need to find the right home. Then work with your real estate agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood. Once you and the seller have reached agreement on a price, the house will go into escrow, which is the period of time it takes to complete all of the remaining steps in the home buying process.</p>
<h3>Step 6: Get a Home Inspection</h3>
<p>Typically, purchase offers are contingent on a home inspection of the property to check for signs of structural damage or things that may need fixing. Your real estate agent usually will help you arrange to have this inspection conducted within a few days of your offer being accepted by the seller. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage.</p>
<p>Both you and the seller will receive a report on the home inspector's findings. You can then decide if you want to ask the seller to fix anything on the property before closing the sale. Before the sale closes, you will have a walk-through of the house, which gives you the chance to confirm that any agreed-upon repairs have been made.</p>
<h3>Step 7: Work with a Mortgage Banker to Select Your Loan</h3>
<p>Lenders have&nbsp;a wide range of competitively priced loan programs and a reputation for exceptional customer service. You will have many questions when you are purchasing a home, and having one of our experienced, responsive mortgage bankers assist you can make the process much easier.</p>
<p>Every home buyer has their own priorities when choosing a mortgage. Some are interested in keeping their monthly payments as low as possible. Others are interested in making sure that their monthly payments never increase. And still others pick a loan based on the knowledge they will be moving again in just a few years.</p>
<h3>Step 8: Have the Home Appraised</h3>
<p>Lenders&nbsp;will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. The appraiser is a member of a third party company and is not directly associated with the lender. The appraisal will let all the parties involved know that you are paying a fair price for the home.</p>
<h3>Step 9: Coordinate the Paperwork</h3>
<p>As you can imagine, there is a lot of paperwork involved in buying a house. Your lender&nbsp;will arrange for a title company to handle all of the paperwork and make sure that the seller is the rightful owner of the house you are buying.</p>
<h3>Step 10: Close the Sale</h3>
<p>At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents. It typically takes a couple of days for your loan to be funded after the paperwork is returned to the lender. Once the check is delivered to the seller, you are ready to move into your new home!</p>
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<p>&nbsp;</p>Thu, 24 Jan 2019 15:27:49 GMTSPECIAL OFFERhttp://www.orizonrealestate.com/blog/109/SPECIAL-OFFER
<p>If you've been considering a real estate career, we have an exciting offer for you! Between now and February 1st we will be assisting you with the cost of your Broker Licensing Course. If interested, call or text John Bellam at 260-609-8351. ***Subject to normal job interviews &amp; commitment to join Orizon's team.&nbsp;</p>
<p><a href="http://www.orizonrealestate.com/content_th_big/BLOG109_Special_Offer.jpg" rel="jqlb" class="jqlb" title="Special_Offer.jpg"><img src="http://www.orizonrealestate.com/content_th/BLOG109_Special_Offer.jpg" alt="Special_Offer.jpg" width="640" height="480" align="" style="" lang="" /></a></p>Tue, 30 Oct 2018 12:12:45 GMTReasons to Reduce Your Asking Pricehttp://www.orizonrealestate.com/blog/95/Reasons-to-Reduce-Your-Asking-Price
<p>In a busy market where homes sell quickly, it may be a little unsettling to you if your home is taking a bit longer to sell. If your Realtor has tried many efforts to get it sold with no luck, a simple price reduction may do the trick. Below are 6 reasons to reduce the asking price on your home :)&nbsp;</p>
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<div style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;position:relative!important; float:left!important; width:100px!important; padding:0 12px 0 0!important;"><a style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/sell/successfully-sell-your-home/6-Reasons-To-Reduce-Your-Home-Price/"> <img title="buysell-home-price-reduced-foreman" style="border:0 none;" src="https://static.houselogic.com/content/images/sized/buysell-home-price-reduced-standard_b2fb797e33cf068607869702bf26ba0d_1x1_jpg_80x80_q85.jpg" alt="Home for sale with lowered asking price" /> </a></div>
<h3 style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;float:left;width:373px;margin:0; font-size:16px!important; font-weight:bold!important;"><a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/sell/successfully-sell-your-home/6-Reasons-To-Reduce-Your-Home-Price/" target="_blank">6 Reasons to Reduce Your Home Price</a></h3>
<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0;float:left;width:373px;">While you&rsquo;d like to get the best price for your home, consider our six reasons to reduce your home price. <a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/sell/successfully-sell-your-home/6-Reasons-To-Reduce-Your-Home-Price/" target="_blank">Read</a></p>
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<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:12px!important;">Visit <a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com">houselogic.com</a> for more articles like this.</p>
<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:11px!important;">Copyright 2018 NATIONAL ASSOCIATION OF REALTORS&reg;</p>
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</div>Wed, 21 Feb 2018 12:39:38 GMTWhat Price of Home Can You Afford?http://www.orizonrealestate.com/blog/93/What-Price-of-Home-Can-You-Afford-
<p><span>One of the most challenging things when starting your home search is knowing how much you can afford for your monthly payment. It is always best to check with a lender and see what loan amount you can get pre-approved for (talk to your Realtor about what lenders they recommend), but there are also rules of thumb to help give you an idea of what you can afford! Check out these 4 tips below.&nbsp;</span></p>
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<div style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;position:relative!important; float:left!important; width:100px!important; padding:0 12px 0 0!important;"><a style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/finances-taxes/taxes/4-tips-determine-how-much-mortgage-you-can-afford/"><img title="how-much-mortgage-can-afford" style="border:0 none;" src="https://static.houselogic.com/content/images/sized/how-much-mortgage-can-afford-standard_4dac58d79f17bdf19e0f46418a2094d7_1x1_jpg_80x80_q85.jpg" alt="Driveway leading to front door of a home" /> </a></div>
<h3 style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;float:left;width:373px;margin:0; font-size:16px!important; font-weight:bold!important;"><a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/finances-taxes/taxes/4-tips-determine-how-much-mortgage-you-can-afford/" target="_blank">4 Tips to Determine How Much Mortgage You Can Afford</a></h3>
<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0;float:left;width:373px;">What&rsquo;s a rule of thumb to determine how much mortgage you can afford? There&rsquo;s no one rule, but these four tips will tell you. <a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com/finances-taxes/taxes/4-tips-determine-how-much-mortgage-you-can-afford/" target="_blank">Read</a></p>
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<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:12px!important;">Visit <a style="color:#16a8d3!important; text-decoration:none!important;" href="https://www.houselogic.com">houselogic.com</a> for more articles like this.</p>
<p style="letter-spacing:normal!important;font-family:Arial,sans-serif!important;margin:0 0 12px!important; color:#000!important; font-size:11px!important;">Copyright 2018 NATIONAL ASSOCIATION OF REALTORS&reg;</p>
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</div>Mon, 29 Jan 2018 15:19:14 GMTPros of Using A Realtorhttp://www.orizonrealestate.com/blog/90/Pros-of-Using-A-Realtor
<p>&nbsp;</p>
<h1>So you don't think you need a real estate agent?</h1>
<p>&nbsp;</p>
<p>Ask yourself these questions before you try to buy or sell a home on your own.</p>
<p>&nbsp;</p>
<p>What do you do when......</p>
<p>&nbsp;</p>
<p>-You want to make an offer to a seller and they have other people interested. How do you give yourself an edge with your offer?</p>
<p>&nbsp;</p>
<p>-You are a seller and several people have interest in buying. How do you pick the strongest and safest offer?</p>
<p>&nbsp;</p>
<p>-A buyer wants to buy your home but they need a government loan. What requirements are there that your home has to meet? What will you have to pay for the buyer to secure their loan?</p>
<p>&nbsp;</p>
<p>-An inspector gives a list of 20 items of concern with the home. How do you come to new terms on continuing the sale and still protect yourself?</p>
<p>&nbsp;</p>
<p>-What conditions on the title work should you be concerned about?</p>
<p>&nbsp;</p>
<p>-What if there are encroachments with the property lot lines? Do you need a new survey? Would a Boundary survey or surveyor location report be best? What is the difference?</p>
<p>&nbsp;</p>
<p>-Which home warranty programs are available? Is there a difference in coverage? Are their different deductibles available? What all is covered?</p>
<p>&nbsp;</p>
<p>-Have all State required disclosures been filled out completely? What happens if not?</p>
<p>&nbsp;</p>
<p>-How do I figure prorated taxes that will be my responsibility at closing?</p>
<p>&nbsp;</p>
<p>-What if the appraisal gets cut? Will the lender still do the loan? How do we come to new terms after the cut appraisal and still get the home sale to close?</p>
<p>&nbsp;</p>
<p>-Who are trusted vendors that can do required repairs so the property is problem free and gets to closing?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p>&nbsp;</p>
<p>-What if the closing does not happen on time?</p>
<p>&nbsp;</p>
<p>-Does a buyer or seller have any hidden "outs" they can claim after an offer has been accepted?</p>
<p>&nbsp;</p>
<p>-Can a seller cancel an offer and accept another one if a buyer misses a deadline on the offer to purchase and the process drags on?</p>
<p>&nbsp;</p>
<p>-What if there is damage to the property after closing but before possession is handed over to the buyer. Whose responsibility is it to fix the problem and if it is an insurance issue, who pays the deductible?</p>
<p>&nbsp;</p>
<p>There are literally hundreds of questions like these that a buyer and seller stumble over in every typical home sale transaction. You attorney will NOT handle most of these. Your lender will NOT handle most of these. Your appraiser will NOT handle most of these. Your surveyor, inspector, insurance agent and even title company will NOT hand most of them either. Only your REAL ESTATE AGENT WILL handle all of these issues and get you happily to the closing table.</p>
<p>&nbsp;</p>
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<p>Orizon Real Estate, Inc. 518 Garland Ave., Columbia City, IN 260-248-8961</p>
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<p><br /> So...If you don't know the answer to all these questions (and literally hundreds more like these) then the answer is YES! You need a professional real estate agent to handle your transaction!</p>
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<p>&nbsp;</p>Thu, 21 Dec 2017 11:09:25 GMT